As far as the insurance claims, I've had many. 

@Jessica Seppo,Many people take the cost of an LLC and funnel it towards more insurance and an umbrella policy.

With that they may be able to recoup from their renters insurance (hopefully you require this)  If locks are damaged and the unit isn't secure you would need to take care of that right away.

I have home owners insurance should i buy another landlords policy as well?

That is unless you have a JV or other equity partner who is putting up the funds immediately with no lien, title insurance, etc.

That (and insurance issues) are two big risks.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

Crossing the lines may not provide proper liability protection.Personally, I just kept my SF rentals in my name and got excellent insurance coverage, $500K per property plus a $2M umbrella.

I 100% endorse adding in the escrows for taxes and insurance to set the buyer/borrower up for success. 

Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.